NRF Terminology {NRF Study Prep Materials}
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NRF Terminology {NRF Study Prep Materials}
target market ✔️a defined customer who has the need, desire, and ability to buy a
retailer's products
discount stores ✔️these retailers offer a broad variety of merchandise, limited service,
and low prices
customer service ✔️the act of taking care of the customer's needs by providing and
delivering
professional, helpful, high quality service and assistance
specialty stores ✔️this segment focuses on deep but narrow assortments with high level
of customer
service
e-commerce ✔️buying and selling through the internet
wholesale clubs ✔️store that sells products in bulk directly to consumers and typically
require a
membership
value ✔️more than just price, a measure of the total benefit
practical needs ✔️those needs that motivated the customers to come to you in the first
place - to solve a
problem or to get a product or service
recreational shopper ✔️this customer shops for fun and therefore shopping does not
necessarily mean always
making a purchase
direct selling ✔️salespeople contact customers directly in a convenient locations, often
at a customer's
home; demonstrate product benefits; take orders and deliver
off-price retailers ✔️offer brand name merchandise at a discount. See also closeout
stores and outlet
stores
corporate chain ✔️a company that operates multiple stores under common ownership
and usually has
centralized decision-making
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